The Latin America, Middle East and Africa Veterinary API Market would witness market growth of 8.6% CAGR during the forecast period (2023-2030).
A rapidly expanding animal health industry has a positive effect on the market as a whole. The expansion of the national animal population and emphasis on animal welfare contribute to market demand. Increasing animal healthcare non-profits, rising companion adoptions, productivity enhancements, unmet medical requirements, and other factors are generating growth opportunities in this industry. There is a correlation between the rise in the number of animal diseases and the increase in the livestock population, which drives up the demand for medication.
The government and the private sector revise animal health promotion and disease prevention guidelines. This is anticipated to stimulate industry expansion over the forecast period. The growing number of oral formulations for various veterinary medications is driving demand for active veterinary pharmaceutical ingredients. The majority of these are nonsteroidal anti-inflammatory medications. Manufacturers are investing in electrochemical synthesis, which expedites the production of active pharmaceutical ingredients.
Abu Dhabi's hospitality industry is one of the most rapidly expanding industries in the United Arab Emirates. This expansion results from higher investment in the hospitality industry and a rise in the proportion of new business proprietors and entrepreneurs. Many visitors were drawn to the region by New Year's. As a result, the region is exceptionally concerned with animal health to protect both animal and human lives from infection. In light of this factor, the demand for veterinary API is anticipated to increase in the LAMEA region.
The Brazil market dominated the LAMEA Veterinary API Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $207.3 million by 2030. The Argentina market is showcasing a CAGR of 9.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 8.4% during (2023 - 2030).
Based on Route of Administration, the market is segmented into Oral, Injectable, Topical and Others. Based on API Type, the market is segmented into Parasiticides, Anti-inflammatory, Antimicrobials, Vaccines, Hormones and Others. Based on Synthesis Type, the market is segmented into Chemical based API, Biological API and Highly potent API. Based on Animal Type, the market is segmented into Livestock Animals and Companion Animals. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Veterinary API Market is Projected to reach USD 12.9 Billion by 2030, at a CAGR of 6.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Boehringer Ingelheim International GmbH, Zoetis, Inc., Elanco Animal Health, Inc., Merck & Co., Inc., Virbac, Vetoquinol SA (Soparfin SCA), Sequent Scientific Limited, Phibro Animal Health Corporation, Febbrica Italina Sintetici S.P.A. (Nine Trees Group S.p.A) and Excel Industries Limited.
By Route of Administration
By API Type
By Synthesis Type
By Animal Type
By Country
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